Asset swap between BASF and Gazprom largely completed BASF subsidiary Wintershall participates in Western Siberian natural gas field Yuzhno Russkoye
29 Oct 2007 -
BASF Aktiengesellschaft and Russian company OAO Gazprom have today (25.10.2007) largely completed their asset swap by legal transferring their respective shareholdings. BASF's wholly-owned subsidiary Wintershall has received a shareholding of 25 percent less one share in the company OAO Severneftegazprom (SNGP), which holds the license to the Yuzhno Russkoye natural gas field in Western Siberia. In
addition, Wintershall has received a preferred share without voting right in OAO Severneftegazprom. This will give BASF an interest of 35% in the economic rewards of SNGP. The issue of shares has been registered. In return, OAO Gazprom has increased its shareholding in the joint natural gas trading company WINGAS GmbH to 50 percent less one share from previously 35 percent. The remaining part of the asset swap will shortly be put into effect.
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